Dublin, May 17, 2023 (GLOBE NEWSWIRE) -- The "Hazardous Area Sensors: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Hazardous Area Sensors estimated at US$12.6 Billion in the year 2022, is projected to reach a revised size of US$18.8 Billion by 2030, growing at a CAGR of 5.1% over the analysis period 2022-2030.
Gas Sensing, one of the segments analyzed in the report, is projected to record a 4.8% CAGR and reach US$7.8 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Pressure Sensing segment is readjusted to a revised 5.8% CAGR for the next 8-year period.
The U.S. Market is Estimated at $3.4 Billion, While China is Forecast to Grow at 8.5% CAGR
The Hazardous Area Sensors market in the U.S. is estimated at US$3.4 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$4.1 Billion by the year 2030 trailing a CAGR of 8.5% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 4.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.6 Billion by the year 2030.
Select Competitors (Total 13 Featured) -
- ABB Group
- Eaton Corporation PLC
- Endress+Hauser AG
- Honeywell International, Inc.
- Mettler-Toledo International, Inc.
- NEO Monitors AS
- SICK AG
- Siemens AG
- Yokogawa Electric Corporation
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 232 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $12.6 Billion |
| Forecasted Market Value (USD) by 2030 | $18.8 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Significance of Intrinsic Safety as a Protection Technique for Equipment in Hazardous Areas Continues to Grow
- Hazardous Area Sensors: Focus of Industry Participants on Preventing Accidents in Hazardous Areas Drives Market Growth
- Hazardous Area Sensors - Global Key Competitors Percentage Market Share in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Strict Workplace Safety Regulations Translate into Growth Opportunities for Hazardous Area Sensor Market
- Rising Significance of Position Sensors in Hazardous Areas
- Sensor Safety Rating: A Critical Requirement in Hazardous Areas
- Gas Sensors/Detectors for Effective Monitoring of Hazardous Areas
- Explosion-Proof Hydrogen Sensor: Ensuring Safety of Electrical Equipment in Risk-Prone Areas
- Methane Gas Sensor: Monitoring and Detecting Methane Gas in Air
- Infrared Sensors Emerges As the Preferred Option for Detection of Methane Gas
- High Significance of Hazardous Gas Detection Sensors in Coal Mines
- Specifying Temperature Sensors to Appropriate Standards: Essential to Ensure Safety of Hazardous Areas
- ISCTH Intrinsically Safe DC Current Sensors
- Chemical Industry: High Risk Facilities with Exposure to Hazardous Gases Necessitate Hazardous Area Sensors
- Stable Growth Outlook for Chemical Industry to Benefit Hazardous Area Sensors Market
- Chemical Industry Growth Worldwide - Percentage Growth of Chemical Production Volume for the Years 2019 through 2023
- Hazardous Operations and High Operating Costs of Oil & Gas Industry Implies Higher Focus on Safety, Drives Hazardous Area Sensors Market
- Increasing Importance of Sensors for Hazardous Gas Detection in Oil & Gas and Petrochemical Industries
- Sensors Find Use in Detection of Hydrogen Sulphide in Oil & Gas Exploration & Production Operations
- Increase in Oil & Gas Industry Activity Raises Demand for Safety of Facilities, Driving Demand for Hazardous Area Sensors
- Growing Investments in Oil & Gas Exploration: Capital Expenditure in US$ Million for the Years 2019, 2021, 2023, 2025
- Operational Risks of Electric Power Industry Translate into Growth for Hazardous Area Sensors
- Concerns over Growing Hazards at Coal-Fired Power Plants Drives Demand for Sensors
- Gas Detection Sensors Vital for Detection of Hazardous Gases in Power Plants
- Hazardous Gas Detection Based on IoT in Power Plants
- Despite Collapse of Coal-Fired Power Generation Globally in Recent Years, Emergence of New Capacities in China and India Sustain Growth
- Global Coal-Fired Power Generation Capacity in GW for the Years 2018, 2020, 2022 and 2024
- CO2 Sensors: Providing Safety to High Risk Nuclear Power Applications
- A Long List of Accidents at Nuclear Power Plants Raises Importance of Hazardous Area Sensors
- IoT Sensors Emerge to Play a Critical Part in Ensuring Safety in Industrial Environments
- Siemens Develops New Detection Technology for Protecting Pumps against Dry Running in Hazardous Areas
- PRODUCT OVERVIEW
- What is a Hazardous Area?
- Classification of Hazardous Areas
- Protection Techniques & Methods Used to Reduce Incidents in Hazardous Locations
- Hazardous Area Sensors
- Specifics to Consider for Sensors in Hazardous Environments
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/3hsthp
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